Chevy Chase Trust Holdings Inc. Invests $163,000 in Infosys Ltd (INFY)

Chevy Chase Trust Holdings Inc. purchased a new stake in shares of Infosys Ltd (NYSE:INFY) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 16,000 shares of the technology company’s stock, valued at approximately $163,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Naples Global Advisors LLC increased its position in shares of Infosys by 2.7% during the second quarter. Naples Global Advisors LLC now owns 96,260 shares of the technology company’s stock valued at $1,870,000 after buying an additional 2,525 shares during the period. OLD National Bancorp IN increased its position in shares of Infosys by 22.3% during the second quarter. OLD National Bancorp IN now owns 14,646 shares of the technology company’s stock valued at $285,000 after buying an additional 2,671 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in shares of Infosys by 269.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,540 shares of the technology company’s stock valued at $108,000 after buying an additional 4,040 shares during the period. Baldwin Investment Management LLC increased its position in shares of Infosys by 11.9% during the second quarter. Baldwin Investment Management LLC now owns 41,431 shares of the technology company’s stock valued at $805,000 after buying an additional 4,400 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Infosys by 70.9% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,277 shares of the technology company’s stock valued at $219,000 after buying an additional 4,680 shares during the period. Hedge funds and other institutional investors own 8.99% of the company’s stock.

Shares of NYSE INFY opened at $9.25 on Monday. Infosys Ltd has a 12 month low of $7.16 and a 12 month high of $10.65. The stock has a market cap of $40.20 billion, a PE ratio of 18.50, a price-to-earnings-growth ratio of 1.78 and a beta of 0.42.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Tuesday, October 16th. The technology company reported $0.13 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.13. Infosys had a return on equity of 24.56% and a net margin of 21.94%. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the previous year, the firm earned $0.13 earnings per share. As a group, research analysts forecast that Infosys Ltd will post 0.52 EPS for the current fiscal year.

The firm also recently disclosed a dividend, which was paid on Friday, October 26th. Stockholders of record on Friday, October 26th were issued a dividend of $0.085 per share. The ex-dividend date was Thursday, October 25th. Infosys’s payout ratio is 34.00%.

Several brokerages have recently weighed in on INFY. Morgan Stanley cut Infosys from an “overweight” rating to a “hold” rating in a research report on Monday, August 20th. Deutsche Bank started coverage on Infosys in a research report on Thursday, July 12th. They set a “buy” rating on the stock. Cantor Fitzgerald boosted their price objective on Infosys from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Monday, July 16th. Cowen boosted their price objective on Infosys from $16.00 to $17.00 and gave the stock a “market perform” rating in a report on Monday, July 16th. Finally, ValuEngine lowered Infosys from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $15.26.

Infosys Company Profile

Infosys Limited, together with its subsidiaries, provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally. It provides business information technology services, including application development and maintenance, independent validation, infrastructure management, and business process management services, as well as engineering services, such as engineering and life cycle solutions; and consulting and systems integration services comprising consulting, enterprise solutions, systems integration, and advanced technologies.

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Institutional Ownership by Quarter for Infosys (NYSE:INFY)

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